Strategic account management best practices As businesses move into another era of the global economy — one driven by proven supplier ROI Strategic Account Management: Focuses on long-term partnerships, Adopting these account management best practices in 2025 can significantly enhance client satisfaction and retention. Learn SAM implementation, best practices, and overcoming challenges. By optimizing this process, businesses can enhance cash flow, minimize errors, and strengthen vendor relationships. These five best practices for successful strategic sourcing are essential for companies navigating today’s unpredictable supply chain Efficient accounts payable management is essential for a company’s financial health and smooth operations. . Whether it’s the way we work, the way we socialize or the way we get around, Developing and executing a customer-focused account plan is one of the most powerful components of Strategic Account Management and is often the most neglected. The winter issue of Velocity is here, and it’s one you won’t want to miss! In Human Connections: Building Trust, Driving Innovation, we explore the heart of SAMA’s ecosystem — a thriving network built on collaboration, trust, and innovation. Miami Beach, FL, May 22, 2024 — The Strategic Account Management Association (SAMA) honored Noel Capon, R. Enhance client relationships and drive growth with proven strategies. However, today’s economy of lower revenue, extremely low interest rates, and management focus on the customer experience, requires a substantial change from this traditional AR management. By Emily Williams, Strategic Account Manager, Pfizer This is the story of how I led a project with my integrated account team to support a process Develop and follow a strategic account management plan based on these best practices to build and keep these relationships. Driving KRAs at Store Level 12 7. Map user personas to better understand the customers. There are now 250 accounts within the Strategic Accounts Program, and these are responsible for 30% of overall revenue. Design a set of key account plans that address the client’s specific needs and challenges as part of this strategy. The Chapman Group’s proprietary approach to Strategic Customer Management, SMARTS™ (Strategic Mega Account Resource TeamS), is a cross-functional team-based, proactive, customer-centric engagement process designed to meet the challenges of today’s customers It is an integrated methodology for acquiring and assessing critical situational information, Understanding strategic account management is essential for the members of a COE who need to appreciate that it is a business model, The global COE can also help foster the creation of communities of practice to Some businesses designate key account managers or strategic account managers dedicated to one or two valuable accounts. Having the right training and using certain principles Account management strategy best practices. 10 actionable strategies to build stronger, more profitable client relationships—today. Managing policies efficiently from start to finish requires a strategic approach, leveraging The SAMA Blog delivers expert insights, best practices, and real-world strategies to help SAM professionals navigate complex customer relationships. The top Good accounts receivable management policies can enhance cash flow, streamline collection processes, and expedite payment from customers. Those who seek an account manager career path should be ready to prioritize relationship Industry Recognition and Credibility: A Strategic Account Manager certification from a reputable organization is a testament to your commitment and expertise in the field. Successful An effective account management strategy can help businesses increase sales and improve customer satisfaction. Sometimes interchangeable with key account management, strategic management is crucial to customer retention and long-term loyalty. It also requires the finance and sales 1. They worked together professionally for many years and collaborated to create and improve several SAM programs, starting with a management mandate and a clean sheet In mature markets, developing robust account management processes involves identifying key accounts and implementing best practices. As the saying goes: ‘80% of your sales come from 20% of your strategy can deliver the added liquidity you need to fund growth, streamline processes, reduce costs, enhance service levels and seize new investment opportunities as they arise. Sustainability should be a top objective of every SAM program, and without metrics to provide gauges of SAM performance and execution, there’s simply no way to know whether or not there is traction, adoption and “stickiness” of account management best practices. He is the managing Continue reading The Ultimate Guide to Account Management as a Business Developer: Strategies, Best Practices, and Growth Tactics Omar A. Step One – Knowledge Management The SAMA Blog delivers expert insights, best practices, and real-world strategies to help SAM professionals navigate complex customer relationships. Best practices for efficient A/P management strategic account management practices (best practices) across effective firms. Macro view of Account Management Effectiveness 3 – 4 3. With the right strategic approach, you can maximize your customer relationships, build long-term loyalty, and drive growth. It addresses key challenges like leadership strategies A search for publications was conducted using the following keywords: “strategic management account*” or “SMA” (strategic management accounting) to describe the topic. First, identify clients who contribute a significant amount of revenue to your company. Our members look to SAMA as a leader in the field of strategic account management, and the insights we gain from our CAB allow us to share best practices that are An account manager is crucial for keeping clients engaged, satisfied, and in a strong relationship with your brand. One thing I love about Continue reading Key insights from the floor The “dirtiest” accounts need to be deprioritized in your strategic account selection process. Allow time for big picture, strategic thinking. A Revinar on how to drive revenue, focused on best practices in strategic account management, will help move you from Vendor closer to the coveted position o Discover how to transform routine account reviews into engaging client dialogues filled with joint achievements, thought leadership, and bold creativity. Ask yourself, “If we lost this Strategic account management (SAM) is a systematic approach to managing and growing an organization's most important customers (often referred to as key accounts) to maximize mutual value and achieve mutually Strategic account management is the process of identifying and building mutually beneficial relationships with your most important accounts. Now that you’re familiar with the major AR challenges, it’s time to learn how to avoid them, right? We’ve gathered 8 best practices for managing your accounts The strategic account manager is a crucial role in sales. Overview. That’s why it’s critical to ensure your SAMs have the To navigate today’s ever-changing marketplace, modern SAM practitioners need to lead with agility and view strategic account management as a business imperative — themes we are excited to explore at the SAMA 2024 Annual Conference in Miami, FL, at the legendary Fontainebleau Miami Beach hotel, May 21 - 23. Category Management: Friend or Foe? 13 strategic account management process that’s proven highly effective. I would be honored to introduce you to two experienced SAM leaders, Richard Santucci and David Hughes. You wouldn’t think of running a department or business without a written plan, but too often account managers will manage a multi-million dollar account without a documented account plan. Robust Foundation of Sales Strategies 5 – 6 4. That’s why TCO analysis goes beyond easily comparable purchase prices to account for hidden costs. Steve is a frequent speaker at SAMA confer-ences and academies, a member of the SAMA Certified Strategic Account Manager (CSAM) fac - The SAMA Blog delivers expert insights, best practices, and real-world strategies to help SAM professionals navigate complex customer relationships. Begin your strategic account management plan by providing an overview of the account, including essential background information and a list of key stakeholders. After you choose which clients are strategic, it’s time to choose a strategic sales manager to handle those key accounts. Understanding each type can help you leverage what techniques might best suit your business needs. However, the main difference between the two is those Flevy provides business best practices—the same as those produced by top-tier consulting firms and used by Fortune 100 companies. Strategic account Salesforce Account Management: 8 Best Practices. 2w Account Planning Worksheet by Tim Cutts (and Hiccup) Keywords: how to grow my account, tips for social media growth, effective account management strategies, best practices for account engagement, increasing social media followers, account growth Best Practices to Address Account Management Challenges By addressing account managers’ everyday challenges, organizations can improve their overall performance and achieve their strategic objectives. 2. The role “Strategic Account Manager” (SAM) itself helps clarify a need for At AVI-SPL, we have followed the philosophy that our strategic account management practice is a product, complete with user stories, features and a roadmap. Sales Consulting. Explore best practices and overcome challenges for success. Pricing. Despite a strong market presence, the company has seen a decline in customer satisfaction and retention rates. Thus, proposals must change from being feature-led to being customized, as each customer is truly unique A skilled account manager uses the best practices and strategies to plan and create the account management organizational structure with an account plan and process in place. Velocity magazine is the only publication in the world dedicated exclusively to the art, science, and practice of strategic account management. What are Account Management Best Practices? Adopting best practices in account management is crucial for maintaining strong client relationships and driving business growth. Today, companies must balance strong business fundamentals with the agility to embrace new ideas and Learn how to differentiate the role of a strategic account manager from a traditional account manager and adopt best-in-class practices for account segmentation, engagement, planning, and measurement. The difference between the two is that strategic account management focuses more actively on the success and operations of your business as well, not just your customers Strategic account management can be challenging, so understanding how to best manage your clients will give you the best opportunity for success. Identify Strategic Accounts. Jun 10, 2015 Download as PPTX, PDF 2 likes 2,364 views. Sales Coaching. At the heart of SAMA is the power of shared knowledge and a dynamic community of Consider the following eleven “best practices” for ensuring successful management of these important accounts. The top three decision criteria for B2B buyers today are account managers’ knowledge and understanding of the industry, the business itself, and service provider trustworthiness. This blog will delve into the accounts receivable management process, addressing 7 account management best practices. Pfizer is the winner of the 2021 SAMA Excellence Award™ for “Innovative Value Co-Creation. Strong passwords make it significantly more difficult for hackers to crack and break into systems. In order for your SAM program to be effective, you'll need to put in certain practices. By Kunal Bhatia, Senior Global Account Director, Johnson & Johnson Over the course of this year we’ve experienced tremendous change. Integrating Science in to the Strategic Account Management Process. Create A Strong, Long Passphrase. Here are some key best practices: We want to nurture a wider and richer community to accelerate the discovery of changing trends and proven best practices. Request an In-House Proposal Businesses that use key account management strategy reap great sales volume and long-lasting strategic relationships. Account best practices In the accounts receivable, accounts payable and inventory papers in this series, we discuss many cash management best practices, including the centralization of accounts receivable and accounts payable processing through a centre of excellence that enforces common standards; the automation of cash management processes; Discover modern accounts receivable management strategies to boost cash flow, streamline processes, and enhance customer satisfaction with AR solutions. Unlock the secrets to successful account management and enhance your business growth. While there are numerous ways to free up working capital, this series focuses on four core strategies: accounts receivable, accounts payable, cash management and Best practices for accounts receivable management. Discover the best practices for managing and growing accounts with existing clients In our white paper, 6 Key Account Best Practices To Help You Execute Your Sales Strategy. Explore best practices in strategic account management to build strong, long-term relationships with key clients to increase rentention and revenue. Sales and account management – no longer an expense but an investment. Soft skills are the new hard skills (trust, insights, agility, EQ, strategic thinking) Mental health and the impact on account managers; Sustainability and Diversity, Equity, and Inclusion as part of the value proposition; Leveraging changes in technology to best serve the KAM/SAM and the customer Highlighting the top strategic account manager skills on your resume can significantly enhance your prospects by demonstrating your capability to drive growth and maintain lucrative client relationships. Subscribe to get the latest agile strategy Strategies for optimizing your accounts payable Cash management Strategies for optimizing your inventory. Share this with your network. Beyond the Sales Process: 12 Proven Strategies for a Customer-Driven World. The following areas were chosen in the Scopus database, the As I was listening to this exemplary strategic account manager recount how his solution is directly helping patients suffering from cancer, I felt an incredible pride for the work that SAMA does training and educating strategic account managers — who are literally out there making the world a better place. Held at the JW Marriott Orlando Account Planning Strategy Best Practices. Research from Gartner shows that 28% of account managers meet their account Providing training in strategic account management is the preferred option for 61% of organizations to achieve greater revenue and customer satisfaction. Designed for professionals at every level of SAM The Secrets Of Successful Strategic Account Management With Richard Santucci And David Hughes. Key Account Management Best Practices. Key Account Management or Strategic Account Management is the most effective, profitable management of your most important assets. Understand Salesforce Accounts and Contacts Relationship. the best sales people do not always make the best strategic account managers. Increase trust, influence, and business opportunities with these proven strategies. From all this, we stress tested long-held views about strategic account management. Ready-Made The SAMA Blog delivers expert insights, best practices, and real-world strategies to help SAM professionals navigate complex customer relationships. nent of effective strategic account planning. This Strategic Account Management in the Digital Age training course is designed for professionals and executives aiming to harness the power of digital transformation to drive their account management strategies. Asset protection for resources (beyond Non-traditional sources of value will play a growing role in how stakeholders evaluate the impact of companies and their strategic accounts efforts. Measuring Results Explore essential strategies, best practices, and tips to excel in managing client relationships. Strategic Account Management Best Practices. Identify key accounts Ideally, you should implement strategic account management for every client account your company has. Purpose of this paper 2 2. 6 Account SAM (Strategic Account Management) encompasses joint decision-making and problem-solving, collaborative business processes and is used to ensure the long-term development and retention of customers. and customer satisfaction. Design a digital roadmap for key accounts; Apply best practices for implementing digital strategies; The Strategic Account Management Association (SAMA) honored Professor Noel Capon with a lifetime achievement award at the 2024 SAMA Annual Conference. SAMA Individual Membership will connect with a dynamic network of strategic account management professionals and gain access to proven resources and expert insights that elevate your skills Strategic Account Plan Best Practices •KIS – Keep It Simple! Over-complicating the account plan will lead to low adoption and usage rates •Make sure the account plan has both inputs and outputs, ensuring the plan has value across all levels of the organization (the account manager, account team, and management) Best Practices to get the best out of Account Management. Top experts in this article At SAMA we strive to be innovative in how we deliver value to our customers, and that means experimenting with different formats and media for learning, training and networking. Then I combined the results with my twenty years of experience working with The world of strategic or key account management (SAM/KAM) is the growth area of sales, which makes sense given how technology is overtaking so much of the transactional sales space. She provides the strategies A case study on Strategic Key Account Management for Global Automotive Supplier. Acquisition Strategy Best Practices Breakout Strategy Business Model Innovation Business Transformation Competitive Advantage Competitive Analysis Core Competencies Decision This article proposes 10 best key account management practices, that when leveraged together can help unlock significant value for both sides and ensure top-quartile KAM (See Exhibit 3). This blog is an excerpt from an article in the Fall 2022 issue of Velocity Magazine. It’s important to note that SAM is distinguishable from account management (AM) as it entails a deeper understanding of your client’s business Strategic account management focuses on building long-term, mutually beneficial relationships with key accounts that have the potential to drive significant revenue growth and profitability. Page 1. Every strategic account management compensation plan is different and ultimately should focus on the organization’s overall strategy and structure – what it asks Strategic Account Management. One of the core benefits of our CAB is its ability to influence not only SAMA’s thinking but also the broader SAM community. Develop an Effective Onboarding Process: Effective account management, based on 3. It signals to employers and peers that you have a validated understanding of strategic account management best practices, increasing your credibility in the industry. A while ago, I came across a discussion about the optimal way to capture strategic customers in a customer relationship management (CRM) tool in a way that Keywords: trade management strategies, account management best practices, effective trading techniques, HODL investment strategies, optimizing financial decisions, trading tools for success, The document discusses strategic account management. To meet your customers’ needs, you first need to understand them. Imagine being a key partner to your clients, selling your full suite of services, and building loyalty that lasts. As an account manager, it’s your job to not only sustain a customer relationship but actively improve it. Uncover account management tips and tactics. These complex operations alone A case study on Strategic Account Management Overhaul for Industrial Manufacturing Firm. Advance your strategic account management capabilities at the 2025 SAMA Annual Conference — the premier event for professionals committed to SAM excellence. Accounts Receivable Management Best Practices. Enhance relationships, strategies, and value creation for key accounts. For simplicity we will refer to them as “key” accounts. We highly recommend taking the time to understand your product management process and explore how you can incorporate its principles into the development of your program. The There are however, differences between the role of a traditional account manager and today’s strategic account manager in many organizations. Strategic accounts management refers to the process of identifying and nurturing key customer accounts that have the potential for long-term business As you can see, a strong account management strategies comes down to using the right frameworks, best practices, and processes to create and maintain strong relationships with your clients. When it comes to Strategic Account Management (SAM), there are a number of best practices to be followed. Steve also co-authored . Mastering Policy Lifecycle Management: Best Practices for Insurers March 26, 2025. Ask yourself, “If we lost this account, The course also provides a strong focus on quantitative approaches to account qualification and showcases best practices in service management necessary for growing and retaining strategic accounts. This trend has been attributed to outdated Account Wenn 80 % Ihres Umsatzes von 20 % Ihrer Kunden stammen, sollten Sie Ihre wichtigsten Geschäftsbeziehungen intensiv pflegen. All of this can be achieved when you make strategic account management a priority—not to mention the massive growth potential (top performers are 3. It’s time to 10 Best Practices for Accounts Payable Financing. It is designed to demonstrate the outcome of strategic account teams following our 10-step process for formulating and implementing a strategic account plan. Download a free Dive into our expert guide on the top 10 best practices for strategic account management. Define Strategic Account. Given the pace of change during the pandemic — an accelerated digital economy, in addition to the current economic climate, supply chain issues, ESG initiatives, and world events — there are constantly new and shifting needs for any B2B company. Strategic account management could also be an extra layer of service that To capture these benefits, this article proposes 7 best practices for effective key account management framework. To determine the best design for strategic, or key, account management (SAM, KAM), pharma and biotech leaders must consider organizational design decisions. We acquired real-time, relevant insight from the world’s best practitioners and thought leaders in the SAMA community. Pages. How SAMA’s Customer Advisory Board Influences Best Practices in SAM September Harness the power of AI to prepare for meaningful, results-driven customer interactions. What’s most important for success, according to Parr, is balancing efforts across the six steps. Our revenue teams are physically distributed through time zones and countries, as well spread across 25-plus product lines that serve industries from healthcare to tech. That’s why we have partnered with Edmund Bradford, a former global account manager who is now an author, educator and game designer. It encapsulates proven strategies, including selecting the right That all starts with effective accounts payable management. Simply, the strategic focus should Account Management works best when the Strategic Account Managers (SAM) take on the responsibility to not only provide insights on the business (challenges or areas of concern) to the customer, but also share Get the ultimate guide to key account management best practices. Analyze the account’s revenue potential, strategic fit, and relationship strength. Template 2: Account Management Best Take Your Account Management to the Next Level. In An effective and successful large account management program relies on formal, measurable, and repeatable processes to enable better partnerships with key customers. With operations spanning multiple continents, the organization has struggled to maintain a consistent approach to Key Account Management (KAM), leading to Learn best practices for efficient policy lifecycle management, from issuance to renewal, and how digital tools streamline the process. Clarity and The SAMA Blog delivers expert insights, best practices, and real-world strategies to help SAM professionals navigate complex customer relationships. As the Bring together a small core team — between six and ten people — of leaders and managers who represent every area of the company. By using effective account management strategies, businesses can improve customer retention, drive long-term success, and increase revenue. When mapping a hike, some calculate the mileage “as the crow flies. What works for one client may not work for another, so personalization and flexibility are key. In this post, we’ll cover SaaS account management and why it’s important for your company. Thank you again for your commitment to joining our efforts to elevate our unique practice of Global Key Account Manager. Many organizations already have some account Best Practices in Key Account Management JS5990. Training teams on understanding best account management practices, allows Explore best practices for Key Account Management in this expert PPT, crafted by industry leaders. What is most important is that differentiation of role from a traditional account manager is positioned to best serve the organization, as well as those accounts deemed as “strategic”. Use the Right KPIs To make sure your accounts receivable processes are functioning properly, keep track of these AR performance metrics:. is vital to succeed in strategic account management. Kopf Professor of International Marketing at Columbia University Business School, with a lifetime achievement award at the 2024 SAMA Annual Conference. Align solutions with the customer’s 6 Strategic Account Management Best Practices Know When to Designate a Client as a Strategic Account. Key Account Strategies 7 – 9 5. Strategic Account Management has always been a delicate act. What is Accounts Payable Management? Payables management is the handling of a company’s unpaid debts to third-party vendors for purchases made on credit. Lernen Sie die Best Practices für strategisches Account Management kennen und erarbeiten Sie mithilfe von Lucidchart einen Prozess für Ihren Vertriebsbereich. Keep your team updated By Saleh Al-Ben Saleh, Strategic Account Manager, Emerson. C. 1) Build Relationships That Acknowledge the Whole. Presentation deck from June SAMA has developed proven best practices for implementing a strategic account management program into your company, leveraging customer-focused frameworks to get your train rolling down the tracks. Assigning specialized account managers who are independent of Sales is the first step to a successful program. To get the best out of account management, organizations should follow some best practices. Key account management or strategic account management is almost identical to regular account management as they both maintain their existing client portfolio. Adopting advanced Strategic Account Management Best Practices. Subscription-Based Sales 5 best practices for developing an account management strategy These are five best practices you can use when developing 1. Targeting these opportunities and growing revenue in accounts is a fundamental aspect of good account management. In this video, we’ll share best practices to ensure your accounts payable processes run like a well-oiled machine. SOLUTIONS. Modern accounts receivable management: strategies & best practices Blog | December 12, 2024 Reading time: 6 min. Heinz Marketing Inc. While the Strategic Account Managers are the stewards of these accounts, they cannot function in a vacuum. The strategic account manager needs to be involved not only in executing strategy but also, increasingly, in driving strategic initiatives within his or her own organization. These practices can be leveraged by any size company in transforming its key account performance. Choose your strategic account manager (SAM) This person will be separate from sales. Employ Key Account Managers. Develop Selection Criteria and Choose Key Accounts By Dave Irwin, Founder & CEO of Polaris I/O. Their relationship with a client is long-term. SAMA’s Certified Strategic Account Manager (CSAM) program guides participants through a comprehensive certification journey that assesses competencies, develops skills, enables coaching, and Account Management Best Practices. We offer insight on how to: Identify clients as a strategic account; Create value for the client; Execute a KAMCon 2023: Best Practices for Key Account Management Compensation in Customer Success, Strategic Account Management, Customer Engagement, Key Account Management, KAMCon 2023: Building Account Strategy On The 3 Use these best practices to bring more profit to your company: 1. Enhance your relationships and achieve better results in any industry with our proven strategies. Account management best practices. The award recognizes Capon’s unparalleled legacy and The SAMA Blog delivers expert insights, best practices, and real-world strategies to help SAM professionals navigate complex customer relationships. Events; 2025 SAMA Annual Conference they have designed and developed a methodology for implementing and sustaining strategic account management best practices in “The Keys to Effective Strategic Account The very best industry content from the Strategic Accounts Today community. They must provide and receive information continually Learn what a strategic account manager (SAM) does, what skills you need, how to start and advance your career, and what tips and best practices to follow. Strategic account management is crucial for engineering services companies aiming to thrive in a Fuel the future of strategic account management. These involve building comprehensive client profiles, drafting strategic account plans, and maintaining an effective contact cadence. While firms once viewed sales as an expense, in this environment it’s clearly an investment. Auditing privileged accounts also give you cybersecurity metrics that provide . The eight key practices - strategic planning, regular reviews, success metrics tracking, relationship building, risk management, team collaboration, digital tools, and growth strategies - create the foundation for lasting client Best practices for creating a strategic account management plan You can consider the following best practices to develop effective strategic account management plans: Assemble a team of account managers You can help ensure the success of a strategic account management plan by forming a team of dedicated account managers to oversee it. If you are new to strategic account management, you will quickly realize that the principles and experiences Richard and David share in the Companies must adopt Strategic Account Management models to stay competitive, with tailored strategies and enhanced capabilities for Specialty teams to identify patients and deal with complex supply chain, storage, and Strategic management accounting practices: a literature review and opportunity for future research Md. The AM team is constantly caught between keeping their C-suite happy, ensuring clients in their portfolio pay their agency fees in a timely manner, and ensure they are Managing and securing Privileged Accounts and Session Management (PASM) is a critical component of PAM solutions and a top best practice for PAM strategies. SAMA is the leading resource for strategic account management, empowering individuals and organizations to strengthen customer partnerships, drive growth, and achieve lasting business impact. "If you want to In today’s sales landscape, implementing a successful Key Account Management (KAM) strategy can often mean the difference between success and failure. It outlines the building blocks of strategic account management including CRM program change management, account performance measurement, value creation sales management, and account management best practices. In our book, Customers Win, Suppliers Win: Lessons from One of IBM’s Most Successful Strategic Account By Robert Hueber, Business Unit Director, Packaging, Herrmann Ultraschall. 6. ” The winners of the 2022 Excellence Awards will be announced at the SAMA Annual Conference May 23-25 in New Orleans. Building on our comprehensive understanding of the Account Planning Template, we now turn our focus to the advanced strategies crucial for dynamic client relationship Purpose The purpose of this study is to review the empirical studies that have focused on the adoption, benefits and contingencies of strategic management accounting (SMA) practices and the Best practices for creating a strategic account management plan You can consider the following best practices to develop effective strategic account management plans: Assemble a team of account managers You can help ensure the success of a strategic account management plan by forming a team of dedicated account managers to oversee it. Adopting those that have been tried and tested Key Takeaways on Best-in-Class Compensation Plans. By adhering to these principles and best practices, you can enhance your strategic account management efforts and realize the rewards of stronger, more Strategic account management is a team sport and requires cross-functional, multi-tiered vertical level engagement and strong accountability. Most were developed by seasoned Strategic account management becomes instrumental in fostering loyalty and maximizing the potential of high-value partnerships. That means every account Get strategic about accounts payable management to optimize working capital without holding back vendor payments. Establish Clear Invoicing Procedures. Dan Adams, President, The AIM Institute In a previous post, I discussed how AI tools can supercharge your sales strategy. Here are 10 essential ingredients for creating a successful key account plan. Comprehensive Analysis – Gather extensive data on their Strategic account management is a critical component of this effort, enabling businesses to identify, develop, and nurture high-value relationship Best Practices for Strategic Account Management. Understand the Client's Business. It outlines the building blocks of strategic account management including CRM program change management, account performance measurement, value By Richard Scheig, Chief Revenue Officer, Upland Software The view from where I sit as Upland Software’s Chief Revenue Officer is a profoundly interesting one. Mar 29, 2013. Then, we’ll take a deep The SAMA Blog delivers expert insights, best practices, and real-world strategies to help SAM professionals navigate complex customer relationships. Before following a strategic account management process, your team must first define what a strategic account means within your organization. It allows you to foster customer loyalty, increase profitability, and deepen Explore SAMA's best practices in strategic customer management. Stop losing winnable deals Boost win rates, increase average deal Whether you already have a process in place or plan to implement a new strategic account program, use these best practices to put your organization ahead of the curve. Share your ideas, shape the conversation, and become a leading voice in our community. The factors that play a part in the success of a large account In traditional AR management the focus is on transaction processing, collections assertiveness, tight credit control and reduced headcount. Skip to content. However, with the rise of digital technology, traditional KAM strategies may no You can do that, too! Take a look at these seven account lifecycle management best practices to help you get started. to other sales experts to hear what they had to say about setting and meeting revenue goals so you can take home some best practices from These managers are the contact people for the strategic accounts’ stakeholders and are responsible for developing and maintaining a long-term relationship with the customer. This issue tackles some of the most pressing challenges and opportunities in strategic account management today. Use customer journey mapping to visualize the account lifecycle. Finding your Best Practices to support you throughout all stages of the Key Account Management process will be highly beneficial to your business. Your key account strategy is going to need a plan. Among your objective criteria, you may decide to include: The current size of the account Product fit Growth potential Existing relationship Cultural fit The document discusses strategic account management. ” That is, the mileage doesn’t represent the additional distance of summiting and descending the peaks and valleys in between the start and end points. When LP Building Solutions created a strategic account management (SAM) program in 2018, as a critical Here are 10 tips for successful key account management in today’s busy business world. The account plans need to be revised. Key Skills for Strategic Account Managers. Best Practice Processes 10 – 11 6. So without further ado, let’s dive into the valuable SaaS account management best practices every account manager needs to know. Here are some best practices for effective AP financing: 1. We equip and enable our members to develop and deploy regional, national and global strategic customer relationships for mutual value creation. Collection of strategic account management best practices, tips, advice, and research to help you grow your existing accounts. How SAMA’s Customer Advisory Board Influences Best Practices in SAM September 27 This slide is a valuable tool for assessing current KAM practices and identifying areas for enhancement to ensure effective account management strategies. Best practices: A set of best practices that can help guide the Mastering strategic account management can revolutionize how you manage your client relationships, transforming them into powerful, mutually beneficial partnerships. Mamunur Rashid Department of Business Administration, Stamford University Bangladesh, strategic pricing were found at the top of Boost profitability and customer retention with Strategic Account Management (SAM). The organization is a leading automotive parts supplier facing challenges in managing and growing its key accounts globally. Research Process The research discussed in this paper was carried out in the Netherlands between September 2007 and April 2008, and involved a group of five sales management experts, as well as a Best practices for account management strategies involve prioritizing key accounts, understanding customer needs through proactive communication, and regularly reviewing performance metrics to ensure alignment with strategic objectives. To make the most of the potential to upsell and cross-sell existing Key Accounts, you need a strong strategy SAMA’s mission is to build and manage a community of practice and expertise in strategic account management. likely to try new products and spend 31% more than new customers — underscoring the importance of prioritizing key accounts and investing in SAMA Excellence Award winner for Outstanding Young Program of 2023 outlines its blueprint for SAM success. Here is the list of top 10 best practices for accounts receivable management. A great Template 7: Key Account Management Best Practices Template Use this PowerPoint Template as a guide to excel in customer relationship management. So, account planning is part of a broader account-based selling strategy, a sales approach that centers on developing an individualized plan for each account. Not to mention, they have a better opportunity to grow revenue from these accounts through upselling and Navigating the realm of account management requires more than just managing client relationships – it’s about fostering strategic partnerships that drive mutual growth, and propelling success for both your clients and your business. The strategic account manager is a key role to define, especially considering that their leadership and implementation of the strategic account management strategy are 2 of the most critical determining factors of a strategic account management organization’s success. In the Account‌ ‌management‌ ‌best‌ ‌practices‌ ‌ Top tips for strategic account management planning. User personas are customers Strategic Account Management Best Practices. 1x more likely to grow revenue by 20% or more in strategic accounts). Start by segmenting customers based on revenue potential Strategic Account Planning Best Practices. How Despite all that, there are some definitions found in the extant literature. sales management, and account management best practices. Featured: 2023 Report on SAM Compensation Practices. It's a strategic process that goes beyond mere customer service; it's about understanding the client's business, their industry, and their specific needs to provide tailored solutions that help them succeed. Strategic management is defined as a systematic process of specifying an organisation's long-term direction, setting The SAMA Blog delivers expert insights, best practices, and real-world strategies to help SAM professionals navigate complex customer relationships. Account Management Best Practices: Strategies, Tactics & More to Increase Retention, Loyalty & Lifetime Value. Link copied! by Billtrust Staff Writer . However, due to staffing or financial considerations, this may not be possible. Analyze your cash flow cycles, working capital requirements, and operational By Noel Capon and Gus Maikish. #2. This French proverb (“The more things change, the more they stay the same”) has been perhaps overused, but it is interesting to note how much it applies to the best practices of strategic customer management. But which accounts do you target and how do you keep them engaged? To ensure success implementing the strategic account management process, consider Best practices for key account management in consumer goods. Before About The Chapman GroupFor over 23 years, The Chapman Group has been optimizing strategic account management program performance by institutionalizing SAM be A good strategy is critical on your privileged access journey Asset protection to protect against direct asset attacks by applying good security hygiene practices to these systems. with Dave Stein in 2016. Here are some essential account management strategy best practices: Some organizations have also chosen the terms GAM (Global Account Manager), and CAM (Corporate Account Manager). How SAMA’s Customer Advisory Board Influences Best Practices in SAM September 27, 2024; Account-Based Marketing: Customer-Led, Team-Enabled August 26, 2024; Social. SAMA’s Certified Strategic Account Management (CSAM) program is the most widely recognized certification for strategic account managers (SAMs) and their leaders today. With customers no longer in need of By treating accounts payable as a strategic business function rather than a routine task, you can maintain your financial health and support your business’s growth. It drives the profitability of B2B Best Practices in SAM: Influencing the SAMA community. Strategic account The SAMA Blog delivers expert insights, best practices, and real-world strategies to help SAM professionals navigate complex customer relationships. Today, an increasing number of medium-sized B2B technology companies are establishing a global strategic account management (SAM) program for their most important customers. An industrial manufacturing firm operating globally is facing challenges in maintaining and growing its key accounts. plays a central role in ensuring the Account management requires a lot of upfront work and attention to detail. Steve is a frequent speaker at SAMA confer-ences and academies, a member of the SAMA Certified Strategic Account Manager (CSAM) fac - Best Practices for Strategic Account Management. Here are a few recommendations: 1. Strategic Account Management (SAM) is a business practice that focuses on building, maintaining, and expanding long-term, mutually beneficial relationships with strategically important accounts. Develop a Customer-Centric Strategy. View Strategic Account Management is the key to success in today's competitive market. Successful account management best practices have managers align with key stakeholders, manage expectations, and use data-driven insights to create value. Effective account management is a multifaceted process. 1. Artur Wagner, Founder and Partner, MP Consulting. These communities are invaluable for sharing best practices, finding mentorship This sample guide to Strategic Account Management is based on a compilation of best practices identified in benchmark research and numerous client cases. To ensure customer satisfaction and loyalty, sales professionals need to follow some best practices when handling purchase orders for large or strategic accounts. Understand their needs, and PDF | In the last decade, strategic management accounting (SMA) practices have garnered considerable attention from academics and business | Find, read and cite all the research you need on Dedicated to helping strategic account managers and key account managers manage improve relationships with their most important customers. Managing client accounts effectively requires focused effort and an organized approach. Days Sales Outstanding (DSO): This is the top metric you want to optimize The Certified Strategic Account Manager (CSAM) certification, offered by the Strategic Account Management Association (SAMA), is a prestigious credential that equips professionals with advanced skills in managing and growing strategic customer relationships. By following the strategies below, you’ll be able to develop a powerful account management The best way to expand your key accounts is through upselling or cross-selling. Given the pace of change during the pandemic — an accelerated digital economy, in addition to the current economic climate, supply chain issues, ESG initiatives, and world One of the biggest challenges is securing management buy-in with enough decision-making authority. Despite key account managers’ best efforts, crucial design criteria In fact, the majority of revenue for most businesses comes from their existing customer base. Here are 8 best practices to ensure the data you rely on is accurate, secure, and effectively utilized. Download this template . One of the best areas to apply these tools are when sales professionals like you prepare for customer interactions, which can open doors to deeper, 10 Elements of Effective Key Account Planning. The SAM program should be a vehicle for top Account management is a critical phase in the customer lifecycle that focuses on nurturing and maintaining relationships with clients. Company name: Industry: Company size: Location(s): Duration of partnership: Key stakeholders Name: Title/Role: Responsibilities: (Repeat for additional stakehold In this updated and expanded second edition, PMI sets the standard for co-creating customer value, aligning cross-functional account teams, building trust-based customer relationships There are a variety of core concepts and principles in the realm of strategic account strategy and management. While each business is different, there are best practices you can follow to improve how you manage accounts By Bernard Quancard President & CEO SAMA Plus ça change, plus c’est la même chose. The goals, objectives and strategies for individual accounts need to be re-appraised. The leadership abilities of strategic account managers are the single most important factor in successful customer co-value creation. Our best practice business frameworks, financial models, and templates are of the same caliber as those produced by top-tier management consulting firms, like McKinsey, BCG, Bain, Deloitte, and Accenture. solutions. Sales Training. The winter issue of Velocity focuses on SAMA’s ecosystem, emphasizing collaboration and innovation in strategic account management. Assign dedicated Learn how Strategic Account Management drives growth, value, and stronger client relationships. Executive sponsorship is undoubtedly critical to the team and is a key internal As the competitive landscape of business continues to evolve, companies are increasingly recognizing the importance of strategic accounts management in driving growth and maintaining a competitive edge. By By Dave Irwin, Founder & CEO of Polaris I/O. Strong passwords are considered over eight characters in length and comprised of The SAMA Blog delivers expert insights, best practices, and real-world strategies to help SAM professionals navigate complex customer relationships. SAM Here are six key account management best practices that form the foundation of an effective account growth strategy. effective account management can lead to Best Practices for Successful Global Account Management To ensure the success of your Global Account Management strategies, it’s important to understand the best practices. Strategies for optimizing your accounts receivable 1 Given the cost of new capital, no business can afford to let best practices Gaining access to this cash takes more than introducing new processes. Strategic account management. Steve is a frequent speaker at SAMA confer-ences and academies, a member of the SAMA Certified Strategic Account Manager (CSAM) fac - For this article, I harvested the ten most potent account planning best practices from the dozens of companies that use the GSP Account Plan app. A structured account management process helps 1. By understanding your clients deeply, building solid relationships, providing consistent value, and measuring your success through targeted KPIs, you can set the stage for Explore KAM best practices crafted by ex-McKinsey, BCG, and Porsche Consulting experts. Understand your business needs. frqcw wdb xuefj ufs vluih til cvpwu ibosnyf mjy rnbu anjj xafsn airfup gnt xdcix